Japanese restaurant first in the world to accept cryptocurrency

Belgian beer store allows customers to order food and drinks with XEM
28 February 2018   2015

NEM's native token XEM got an interesting use case. Tokyo-based Belgian beer and traditional food store St. Arnould accepts XEM is a legitimate payment. The owner of the store runs the business for 8 years already, and the last 2 of them - dealing with the cryptocurrency. It all started with an occasional customer who offered to pay with XEM. The owner, Mr. Yousuke Sato got curious and allowed the transaction.

I became interested in virtual currencies about five years ago and began tweeting about them. I thought it would be interesting to accept payment in a virtual currency, so I said yes.


Yousuke Sato

Restaurant owner

Since then, the restaurant has gained an enormous popularity among virtual currency adepts and was largely accepted as the first such restaurant in the world. Even though recent hack of CoinCheck has severely damaged the reputation of NEM, it didn't affect the popularity of the restaurant in the slightest.

The market for virtual currency is still young so it’s only natural that it has become a target of speculation, but I think it has potential as a currency that is not restricted by country. I think it’s too early to say what will happen to virtual currencies in the future.


Yousuke Sato

Restaurant owner

Japan has already become a trending place for the virtual currencies as means of payment. In Tokyo alone there are an electronic retail franchise Yamada Denki, BBQ restaurant Nikugatou, sushi restaurant Numazuko. In Nagoya there is a hair salon Hair Grande Seeek.

NEM Foundation to Stop Stolen Coincheck Coins Tracking

Organization said it had provided law-enforcement agencies with information from its investigations
22 March 2018   222

NEM.io Foundation, said it stops tracking the funds stolen from the Japanese exchange Coincheck. This is reported by Bitcoin. com

More than 500 million XEM were stolen from Coincheck in January this year. Soon after that, the developers of cryptocurrency provided a solution that allowed to assign the appropriate label to the stolen digital coins to track their further movements.

NEM.io Foundation announced that the information it gathered is sufficient to enable law enforcement agencies to move to more decisive action. The organization refused to explain why it decided to stop conducting its own investigation.

According to the information published in the Japan Times, most of the stolen XEM could already be laundered and, therefore, forever lost for investigation. The withdrawal of funds to other crypto-currencies and fiat takes place through a website in a darkweb, which, according to the information of the technical director of Japan Digital Design, Masanori Kusunoki, is still functioning.

Kasanori argues that it is becoming more difficult to find the stolen Crypto currency. Previously, the NEM.io Foundation reported that the cybercriminals did not attempt to sell the stolen crypto currency.